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Senator Rick Scott says he will keep Big Brother out of your bank account.
Scott co-sponsored legislation with Senator Ted Cruz to block the creation of a Central Bank Digital Currency through the Federal Reserve.
The CBDC Anti-Surveillance State Act would prevent the White House from establishing a digital currency that could give the federal government the ability to monitor everyone's transactions and potentially defund politically unpopular activity.
Sen. Scott said, “Big government has no business spying on Americans to control their personal finances and track their transactions. It is a massive overreach and a non-starter for me. That is why I am proud to join Senator Ted Cruz to introduce the CBDC Anti-Surveillance State Act to stand up against this invasive practice and keep Big Brother out of your bank account.”
The legislation would also bar the Federal Reserve from issuing a CBDC indirectly to individuals through third party financial institutions.
If passed it will also prevent the Federal Reserve from using a CBDC as a tool to implement monetary policy and control the economy.